CLAIM #6083 · Amgen Inc (AMGN) · 2024Q3 earnings call · Oct 30, 2024 · due Oct 30, 2025
“Going forward, we expect continued declining net selling price, relatively stable volume, providing strong cash flow for our business.”
Murdo Gordon · EVP, Global Commercial Operations
In context
“ofile and increased adoption by pulmonologists. We're encouraged by the growth of TEZSPIRE to date and its potential to treat the 2.5 million patients worldwide with severe uncontrolled asthma. Otezla sales decreased 1% year-over-year for the third quarter with 5% volume growth. This volume growth was offset by 7% lower net selling price. Otezla remains the only approved oral systemic therapy with a broad indication and is well positioned to help the more than 1.5 million systemic treatment-naive U.S. patients with milder psoriasis who cannot be optimally addressed by a topical treatment. Enbrel sales decreased 20% year-over-year for the third quarter, primarily driven by 13% unfavorable changes to estimated sales deductions and 12% lower net selling price. Volumes grew 4% in the quarter. Going forward, we expect continued declining net selling price, relatively stable volume, providing strong cash flow for our business. Sales of our biosimilar products increased 9% year-over-year in the third quarter. We have fully deployed our team in support of the recent U.S. launch of PAVBLU, a biosimilar to EYLEA. Our teams moved quickly to engage retina specialists, and we're encouraged by the enthusiastic feedback from customers. Our teams are also ready for the upcoming U.S. launches of WEZLANA, a biosimilar to STELARA and BEKEMV, a biosimilar to Solaris, expected in the first and second quarters of 2025, respectively. Overall, our biosimilars portfolio continues to deliver attractive returns driven by our efficient business model. In oncology, sales of our seven innovative products, BLINCYTO, LUMAKRAS, Vectibix, KYPROLIS, Nplate, XGEVA and IMDELLTRA grew 17% year-over-year for the third quarter, driven by volume”
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SEC filings for AMGN ↗ · Claim quote is verbatim from the 2024Q3 earnings call.